ACRES Commercial Realty (NYSE:ACR - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.
Other analysts also recently issued research reports about the company. Weiss Ratings downgraded ACRES Commercial Realty from a "hold (c)" rating to a "sell (d+)" rating in a research report on Tuesday, August 4th. Wall Street Zen downgraded shares of ACRES Commercial Realty from a "hold" rating to a "sell" rating in a research note on Sunday, July 5th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $24.50.
View Our Latest Research Report on ACRES Commercial Realty
ACRES Commercial Realty Trading Up 2.8%
Shares of ACRES Commercial Realty stock opened at $14.93 on Monday. The stock has a market capitalization of $106.42 million, a P/E ratio of -13.33 and a beta of 1.08. ACRES Commercial Realty has a 52-week low of $13.83 and a 52-week high of $24.61. The company has a debt-to-equity ratio of 3.24, a quick ratio of 108.63 and a current ratio of 108.63. The stock's 50-day simple moving average is $16.88 and its 200 day simple moving average is $18.58.
ACRES Commercial Realty (NYSE:ACR - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.92). ACRES Commercial Realty had a return on equity of 2.42% and a net margin of 22.62%.The company had revenue of $20.98 million for the quarter, compared to analysts' expectations of $20.32 million. As a group, research analysts anticipate that ACRES Commercial Realty will post 0.15 EPS for the current year.
Insider Buying and Selling at ACRES Commercial Realty
In related news, major shareholder Eagle Point Credit Management sold 2,212 shares of ACRES Commercial Realty stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $21.80, for a total value of $48,221.60. Following the sale, the insider owned 716,679 shares in the company, valued at $15,623,602.20. The trade was a 0.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 21,773 shares of company stock valued at $517,787. 4.60% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On ACRES Commercial Realty
Institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Management LLC bought a new stake in shares of ACRES Commercial Realty in the fourth quarter worth approximately $76,000. Deutsche Bank AG bought a new position in ACRES Commercial Realty during the fourth quarter valued at approximately $130,000. Bank of America Corp DE lifted its position in ACRES Commercial Realty by 110.4% during the second quarter. Bank of America Corp DE now owns 3,671 shares of the company's stock valued at $66,000 after purchasing an additional 1,926 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in ACRES Commercial Realty in the second quarter worth approximately $60,000. Finally, New York State Common Retirement Fund purchased a new stake in ACRES Commercial Realty in the second quarter worth approximately $106,000. Institutional investors own 40.03% of the company's stock.
ACRES Commercial Realty Company Profile
(
Get Free Report)
ACRES Commercial Realty Corp., a real estate investment trust (REIT), focuses on the origination, holding, and management of commercial real estate mortgage loans and equity investments in commercial real estate property in the United States. It invests in commercial real estate-related assets, including floating-rate first mortgage loans, first priority interests in first mortgage loans, subordinated interests in first mortgage loans, mezzanine financing, preferred equity investments, and commercial mortgage-backed securities.
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